2.       Listed Company is no more required to disclose the following matters in its Board’s report:

i)               the explanation on the relationship between average increase in remuneration and company performance;

ii)                   comparison of the remuneration of the Key Managerial Personnel against the performance of the company;

iii)                 variations in the market capitalisation of the company, price earnings ratio as at the closing date of the current financial year and previous financial year and percentage increase over decrease in the market quotations of the shares of the company in comparison to the rate at which the company came out with the last public offer in case of listed companies, and in case of unlisted companies, the variations in the net worth of the company as at the close of the current financial year and previous financial year;

iv)         comparison of the each remuneration of the Key Managerial Personnel against the performance of the company;

v)                  the key parameters for any variable component of remuneration availed by the directors;

vi)                 the ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in excess of the highest paid director during the year.

3.       The board’s report shall include a statement showing the name of top ten employees in terms of remuneration drawn and the name of every employee, -

(i) if employed throughout the financial year, was in receipt of remuneration for that year which, in the aggregate, was not less than one crore and two lakh rupees;

(ii) if employed for a part of the financial year, was in receipt of remuneration for any part of that year, at a rate which, in the aggregate, was not less than eight lakh and fifty thousand rupees per month;